In an emotional speech, posted on the Prince Couple's Instagram account, Prince Harry talks for the first time about the British court settlement.

He says he is saddened to leave his royal duties, which he and his wife Meghan looked forward to performing when they got married.

- That's why it makes me very sad that it has become this way, he says in a speech at a fundraising event at the charity Sentebale, which he himself was co-founded.

"Incredibly grateful"

It has been storming within the British royal house, since the Prince couple earlier in January made it clear that they wanted to take a step back from their royal duties. This weekend, Buckingham Palace announced a deal, which means that Prince Harry and his wife Meghan will no longer be a working part of the British royal house.

- There wasn't really any other choice, he says in the speech.

He also expresses respect for his grandmother - his supreme commander - Queen Elizabeth.

- I am incredibly grateful to her and the rest of my family for the support they have shown Meghan and me over the past few months, he says.

- Our hope was to continue serving the Queen, the Commonwealth, and my military relations, but without public funds. Unfortunately, it was not possible, he continues.

Critical to media

The Prince and Princess have previously criticized the media coverage they have been subjected to. Without going into it specifically in the speech, Prince Harry says that "the media is a powerful force" and that the problem is "much bigger than us".

The Prince says he hopes for a more peaceful life.

- Thank you for giving me the courage to take this next step, he says.